share of firms tax
snehanjali athmakuri (46 Points)
31 March 2018
whether firms tax paid by partners can be claimed as expense by partners in their individual return
4 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 31 March 2018
NO... IT'S ALSO DEDUCTED IN HIS CAPITAL ACCOUNT.
MUKESH JINARA
(partner)
(20 Points)
Replied 31 March 2018
treated as extra contribute of capital account.
snehanjali athmakuri
(46 Points)
Replied 31 March 2018
it is deducted in his capital account iam asking while computing his business income in his individual return can it be claimed as expense
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